Monday, 10 July 2017

EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 10 JULY 2017

CPO trading range for the day is 479-493. Crude palm oil settled flat paring its gains seen due to firmness in spot demand on the back of forecasts for lower production in June. Production in Malaysia, rose to 1.65 mt in May, up 6.9% from the previous month, according to the latest data MPOB. Palm oil shipments from Malaysia fell 8.9% for the full month of June from the previous month, according to data from cargo surveyor. Crude palm oil prices in spot market dropped by 4.70 rupees and settled at 493.70 rupees.